The International Forum of Sovereign Wealth Funds announced that it is switching its headquarters from Washington to London.
“The decision further reinforces IFSWF's position as a significant global institution,'' said the group, which represents the world's top sovereign wealth funds.
Sovereign wealth funds are investment vehicles typically controlled by rich countries with trillions of dollars at their disposal ready to invest abroad.
The IFSWF was founded in 2009 in Kuwait and brings together 26 leading funds from countries including Australia, Azerbaijan, China, New Zealand, Norway and the United Arab Emirates.—AFP